Canal Insurance CO acquired a new position in shares of Campbell Soup (NYSE:CPB) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $381,000.
A number of other large investors have also recently made changes to their positions in the business. Third Point LLC raised its holdings in Campbell Soup by 16.7% during the 4th quarter. Third Point LLC now owns 21,000,000 shares of the company’s stock worth $692,790,000 after purchasing an additional 3,000,000 shares during the last quarter. Vanguard Group Inc raised its holdings in Campbell Soup by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 20,757,540 shares of the company’s stock worth $760,348,000 after purchasing an additional 221,311 shares during the last quarter. BlackRock Inc. raised its holdings in Campbell Soup by 3.1% during the 4th quarter. BlackRock Inc. now owns 14,816,506 shares of the company’s stock worth $488,794,000 after purchasing an additional 440,312 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Campbell Soup by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 6,723,599 shares of the company’s stock worth $221,812,000 after purchasing an additional 446,435 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. raised its holdings in Campbell Soup by 3.9% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 2,955,783 shares of the company’s stock worth $84,337,000 after purchasing an additional 109,593 shares during the last quarter. 52.13% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on CPB shares. Wells Fargo & Co reissued a “hold” rating on shares of Campbell Soup in a report on Wednesday, January 16th. Zacks Investment Research cut Campbell Soup from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. ValuEngine cut Campbell Soup from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Finally, Bank of America set a $30.00 target price on Campbell Soup and gave the stock a “sell” rating in a research report on Thursday, February 28th. Eight research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $37.67.
Campbell Soup stock opened at $38.67 on Thursday. The stock has a market cap of $11.66 billion, a PE ratio of 13.47, a P/E/G ratio of 2.60 and a beta of 0.43. Campbell Soup has a 1 year low of $32.03 and a 1 year high of $43.98. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.70 and a quick ratio of 0.37.
Campbell Soup (NYSE:CPB) last posted its earnings results on Wednesday, February 27th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.07. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. Campbell Soup had a positive return on equity of 55.51% and a negative net margin of 1.68%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. Equities analysts forecast that Campbell Soup will post 2.48 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Thursday, April 11th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, April 10th. This represents a $1.40 annualized dividend and a dividend yield of 3.62%. Campbell Soup’s payout ratio is currently 48.78%.
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Campbell Soup Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
Further Reading: Convertible Shares
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